ICE Continues Data Push, Buys Two S&P Units
March 01 2016 - 5:55PM
Dow Jones News
By Josh Beckerman
Intercontinental Exchange Inc., continuing to expand its
pricing-data offerings, agreed to buy two businesses that are part
of S&P Global Market Intelligence.
New York Stock Exchange owner ICE has agreed to purchase
Standard & Poor's Securities Evaluations Inc., which provides
fixed-income evaluated pricing, and Credit Market Analysis, which
offers data for over-the-counter markets.
The sale price wasn't disclosed.
In October, ICE struck a $5.2 billion deal for Interactive Data
Corp., which serves traders, mutual funds, banks, hedge funds and
others. Among other services, IDC provides hard-to-get data on bond
prices.
S&P Global Market Intelligence, a unit of McGraw Hill
Financial Inc., said that after reviewing its portfolio, "we
determined that we do not have critical mass in the area of
securities pricing.
"With rising demand for independent data in the global
fixed-income and credit markets, this transaction will support the
need for innovation and increased risk management and valuation
services," ICE said in a statement.
ICE said Tuesday it is considering a bid for London Stock
Exchange Group PLC, a week after Germany's Deutsche Börse said it
was pursuing a merger with LSE.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
March 01, 2016 17:40 ET (22:40 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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